In what state was the tractor located?
Ah yes the almighty dollar I always give deposit get a receipt. Been screwed a couple of times. Apparently a handshake isn't good as your word or bond in today's world. A handshake was good enough for Henry and Harry it's good enough for me.
Kirk
Kirk, it was in Ohio. After driving an hour to see it, the battery was dead and it hadn't been started in many months. The seller knew nothing about the extent of the "restoration" that had been done because it was part of a larger package deal of antique cars. Of course, without being able to hear the engine, test the transmission, brakes or hydraulics, I wasn't going to commit to purchasing it. Plus, I wanted to understand the situation with the transmission. I mentioned there were a few minor things I'd need to do to make it serviceable- rear stabilizer bars, ORC, drawbar arm and front tire. He suggested the $3500 price was negotiable but wouldn't give a specific price until he got it running and that was fine with me as well. Late the next evening, he called to tell me it was running just fine after charging the battery. He also stated another potential buyer was coming to look at it early the next morning. However, he verbally agreed to accept $3,300 (his number, not mine), said we had a deal and it was mine. He was unsure about his plans for the weekend and promised to let me know when he'd be home so i could see the tractor running and pay him. Later the next day he sent a text message that the other buyer came and gave him full price!
Naturally, a seller has every right to deal with the first guy who shows up with cash. However, I think a seller also has an obligation to ensure his product is functional before a buyer shows up OR both parties agree to "as-is" conditions. Likewise, I believe a man's word should be a man's word. I would have told the other guy a sale was pending.
Last spring I advertised my 1997 Toyota Tacoma 4x4 at a very reasonable price on AutoTrader. It had low miles and was in outstanding condition. Within the first hour of the ad going live, a young man who lived 4 hours away called to say he'd buy it at full price if my description was accurate. He stated he and his father would leave immediately. Then all **** broke loose with calls and texts from countless potential buyers who were nearby. I stated the sale was pending and recorded everyone's name and phone number in the order received. One of them offered me as much as $500 more than my listed price and another said he could be here in 30 minutes with a large cash deposit. I deferred everyone and called the first buyer to ensure he was on his way. As promised, 4 hours later he showed up with his dad. They made a visual inspection, short test drive, gave a $500 cash deposit and returned two days later with the remaining balance. I immediately deleted the ad after receiving the deposit and called all interested parties to let them know the truck was sold. It was exhausting to deal with an avalanche of buyers but I put myself in the place of that young man who had verbally committed and travelled a long distance. I would have expected someone to do the same for me.
I won't lose a wink of sleep over any tractor but it was just very infuriating.